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Yet payday loan rates have reached new highs. Wonga is one of the leading providers of these controversial products and its rates do not disappoint those. Wonga has reduced its daily cost from 1% to %, and cut its missed payment fee from £20 to £15, while a £ 'transmission fee' has been. Our service has an annual interest rate of 36%, but bear in mind that a Wonga loan is only for between one day and a month. Only looking at the annual interest.

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